Lee County Fair FY2024 filing

Not tax-deductible

Donnellson, IA501(c)(5)Since 1945EIN 42-0696098

To support agriculture education and development for youths in lee county, iowa.

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $9K a year · 3% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $73K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$431K
+46% vs prior year
Spent
$362K
To programs
99%
Net assets
$786K
By yearFY2020–FY2025
Revenue
$431K
FY2024▲ +46%
Revenue by fiscal year
FY2020$150K
FY2021$249K
FY2022$317K
FY2023$295K
FY2024$431K
FY2025$388K
Expenses
$362K
FY2024▲ +15%
Expenses by fiscal year
FY2020$159K
FY2021$311K
FY2022$332K
FY2023$313K
FY2024$362K
FY2025$412K
Net assets
$786K
FY2024▲ +10%
Net assets by fiscal year
FY2020$810K
FY2021$749K
FY2022$735K
FY2023$717K
FY2024$786K
FY2025$763K

From the FY2024 Form 990 · see the original

You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1940.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $356K Management & general 1% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Lee County Fair executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Lee County Fair is a member-serving organization based in Donnellson, IA, formed in 1945.

Provided by the organization

This section is blank until Lee County Fair claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

Lee county fair held in july were exhibits and shows for ag livestock, garden products, home canning, baking, eqt, etc are held.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$73K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$431K
Ln 12
Fees for servicesLn 2g$225K
Gifts and grantsLn 1h$195K
Other incomeLn 4–11$11K
Money outPt IX
$362K
Ln 25
Programscol B$356K
Managementcol C$5K
Owns and owesPt X
$786K
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$786K
LiabilitiesLn 26$0
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$195K
Fees for servicesLn 2g$225K
Investment incomeLn 3$328
Other incomeLn 4–11$11K
Total revenueLn 12$431K
Assets in detailPt X, end of year
CashLn 1$15K
SavingsLn 2$5K
Cash and savings togetherLn 1–2$20K
Land, buildings, equipmentLn 10c$754K
Total assetsLn 16$786K
LiabilitiesLn 26$0
Net assetsLn 32$786K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$181K$20K
Land, buildings, equipmentLn 10c$626K$754K
Total assetsLn 16$822K$786K
LiabilitiesLn 26$105K$0
Net assetsLn 32$717K$786K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$6K$6K
Payroll taxesLn 10$612$612
Accounting feesLn 11c$2K$1K$1K
Advertising and promotionLn 12$15K$15K
Office expensesLn 13$8K$4K$4K
OccupancyLn 16$16K$16K
TravelLn 17$947$947
InterestLn 20$6K$6K
Depreciation, depletion and amortizationLn 22$33K$33K
InsuranceLn 23$41K$41K
Other expenses (24a–d)Ln 24$206K$206K
All other expensesLn 24e$27K$27K
Total functional expensesLn 25$362K$356K$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $388K$412K−$24K$763K 990 PDF
FY2024 Viewing $431K$362K$69K$786K 990 PDF
FY2023 $295K$313K−$18K$717K 990 PDF
FY2022 $317K$332K−$14K$735K 990 PDF
FY2021 $249K$311K−$61K$749K 990 PDF
FY2020 $150K$159K−$8K$810K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $430,916 across 6 lines filed
Lines not itemized here account for $477 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$195,424
VIII-1h Total contributions, gifts and grants$195,424
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $224,637$224,637
VIII-3 Investment incomeExcluded from tax $328$328
VIII-6 Net rental income or lossExcluded from tax $10,050$10,050
VIII-12 Total revenueUnrelated business $477 · Excluded from tax $235,015$430,916
Part IX · Statement of functional expenses $361,576 across 12 lines filed
IX-7 Other salaries and wagesPrograms $5,566$5,566
IX-10 Payroll taxesPrograms $612$612
IX-11c Accounting feesPrograms $1,165 · Management $1,166$2,331
IX-12 Advertising and promotionPrograms $14,502$14,502
IX-13 Office expensesPrograms $4,012 · Management $4,013$8,025
IX-16 OccupancyPrograms $16,444$16,444
IX-17 TravelPrograms $947$947
IX-20 InterestPrograms $5,771$5,771
IX-22 Depreciation, depletion and amortizationPrograms $32,889$32,889
IX-23 InsurancePrograms $41,476$41,476
IX-24 Other expenses (24a–d)Programs $206,286$206,286
IX-24e All other expensesPrograms $26,727$26,727
IX-25 Total functional expensesPrograms $356,397 · Management $5,179 · Fundraising $0$361,576
Part X · Balance sheet $786,152 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $21,171$15,065
X-2 Savings and temporary cash investmentsStart of year $160,140$5,074
X-10c Land, buildings and equipment, netStart of year $626,251$754,013
X-14 Intangible assetsStart of year $14,000$12,000
X-16 Total assetsStart of year $821,562$786,152
X-26 Total liabilitiesStart of year $104,750$0
X-27 Net assets without donor restrictionsStart of year $716,812$786,152
X-32 Total net assets or fund balancesStart of year $716,812$786,152
X-33 Total liabilities and net assetsStart of year $821,562$786,152
Part XI · Reconciliation of net assets $786,152 net assets at year end
XI-1 Total revenue$430,916
XI-2 Total expenses$361,576
XI-3 Revenue less expenses$69,340
XI-4 Net assets at start of year$716,812
XI-10 Net assets at end of year$786,152

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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